Bloomberg

Bloomberg | Quint is a multiplatform, Indian business and financial news company. We combine Bloomberg’s global leadership in business and financial news and data, with Quintillion Media’s deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for India’s sophisticated audiences.

Policy To Scrap Older Vehicles To Boost Volumes, Ashok Leyland Says

Ashok Leyland Ltd. anticipates a two-to-three times surge in the industry volumes with the implementation of the vehicle scrappage policy by the government.

Under the policy, the government aims to scrap commercial vehicles older than 15 years that do not comply with the pollution emission norms.

“The policy is very much on the anvil,” Gopal Mahadevan, chief financial officer of the truck maker, told BloombergQuint, adding that it will serve as a huge incentive for medium and large fleet operators to replace their depreciating fleet.